Royston Methodist Church Annual Report and Financial Statements for the year ending 31st August 2024 Contents Charity Information..............................................................................,...............................,.................. Report of the Trustees.......................................... Statement of Financial Activities Notes to the Financial Statements..........,.......,................... Declarations and Scrutinv. Independent Examiner's Report. .10 .14 .15 Charity Information Trustees Minister Revd Charity Nzegwu Stewords Gill Grainger James Hindley Geoff Grainger Dave Aggett Margaret Tillson Sue Walter 8essie Doughton fresffqned Iolh February 2024J Malcolm McKimmie {rp.%igned 1st May 20241 Karen Shepherd {re5igned 1st Moy 2024) Ireasurer Nicholas Keep gther Members of Church Council St Janet Blair (term o[office ended l Mily 20241 Jennic Harris Sue Watson Cathy Black Rosie Austin (resigned 30, June 2024) Ellie Browne {re5igned 24, July 2024) Joan Germany Joyce Goodall Laura Hindlev Paul Harris jeff Maddin Tony Garrick Tes5 Maddin Joan Munden Ann Keep Brian Norwood ((yppointed I" ML7y 2024J Karen Shepherd lappointed 18, August 20241 Non-trustee Members of Church Council Elsie Salmon Icircuit stewardl Chality reElStration nurnber: 1207017 Independent Examiner: The Accountancy Practice, Roy5ton Bankers.. Barclays PLC Trustees for Methodist Church Purposes Central Buildin8S Oldham Street Manchester Ml IJQ Central Finance Board of the Methodist church 9 Bonhill Street London EC2A4PE Report of the Trustees The Trustees present their annual report together with the financial statements of the charity for the year ended 31" August 2024. The financial statements comply with the Charities Act 2011, the Deed of Union and Methodist Ctrturch Act, and Accounting and Reportlll8 by Charities.. Statement of Recommended Practice applicable to charities preparing their account5 In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191. As a result Of last year's income exceeding EIOO,000, due to phase l of the Building Project the Charity Commission was asked for an exception to registration. Policy at the Charity CommissiDn had changed since a similar request was made the previous year, so the request was declined. A team led by the Church Council Secretary successfully registered the Church as a separate Charity. Previously we had been an Excepted Charily under the Charities (Exception from Registration) Regulation5 1996 and subsequent modifying Statutory Instruments. Thi5 IS therefore our first annual report to the Charity Commission. Similar accounts have been presented to the Circuit Meetin8 and Church Council in previous years and an annual report of our activities has been presented at the Annual church Meeting, The report to the Church Meeting was both more extensive and less formal than the report made here. Background This is the annual report and financial statements of Royston Methodist Church in Roy5ton, Hertfordshire. Achievements and Performance Royston Methodist Church had a membership of 74 in March 2024. The nom)al attendance at our main Sunday Service at 10.30 (based on the October 2023 countl is 45. This includes the people ttending on Zoom. We transmit m05t of our services and have a few people attencling each week by Zoom. These people vary and are normally members of our own congregation who are feeling less well or unable to travel to the service that day. We also have a number of extra services mostly in Advent, Lent and Easter. Unusually, the Mayor of Royston asked us to host the Civic Service in May 2024. Our minister, Rev Charity NzeEwu, was on sabbatical from the middle of July 2024. We have an active programme of Youth Work using self-employed Professional Youth Workers to run a monthly Messy Church lattendance around 55 people), weekly First Friends Icarer and toddler group,. attendance artsund 45 children plus carers) and a Holiday Club Sn October half term lattendance around 25 children). We run 3 number of aclivities,. coffee mornings on Saturdays as well as after the service on Sunday, a monthly Sunday Lunch, Ladies House GrDUP and Craft 'n' Chat. The premises are let to a number of charities, organi5ations and businesses including AA, Homestart, Guides and exercise and dance classes. The church is currently in a two-phase refurbishment project where in Summer 2023 the Gents lavatory was converted to 3 UniseK cubicles, a new accessible toilet and baby change was built in the entrance area and a platform lift installed between the worship area and the rest of the premises. Some of this expenditure fell in the current reporting year. In Summer 2024, the Ladies lavatory was removed and amalgamated into a larger refitted kitchen. This project was close to completion at year end but transactions were not complete. Financial Review For the year ending 31st August 2024, the trustees were required to prepare recelpts and payments accounts, as income wa5 below the threshold for Accruals accounting. This is likely to be the case for next year. The church made a small deficit on the General Fund of El,10912023.' £5,667 surplus). Unrestricted reserves at 31st August 2024 were £100,65912023'. £101,378). Total reserve5 stood at £118,956 12023.'£153,7921. Balances on the Restricted Funds at year end 2024 were Benevolence Fund £143, Property Fund E18,154. We expect to spend more than the balance of the Pruperty Fijnd to complete the Property Project. Reserve5 Policy Royston Methodist Church adopted a Reserves Policy in 2023. The Royston Methodist church policy document itself sets Out the rationale for the reserves policy and identifies the requirement for two reserves.. a General Reserve and a Property Reserve. In summary, the policy is that.. We aim to maintain a General Reserve of about six months expenditure, or £ 26,000 We aim to maintain a Property Reserve of £20,000. The church exceeded this balance at all times in 2023-24. A similar policy will be proposed for 2024-25 at the November Church Council MÈeting. Aims, Objects and Organisation Our objectives are summari5ed in our mission statement.. Royston Methodist Chtjrch proclaims the message of God's love through ChTlSt by worshipping, growing and learning as a community of dlsciples. We aim to be open and caring, responsive to each other and to local and global concerns. We seek to build a closer partnership with other churches both locally and within the wider Methodist family. Royston Methodist Church is governed and managed in accordance with the standing orders of the Methodist Church. The church is led by a miriister who chairs the Church Council, the governing body. The member5 of the Chijrch Council, excluding representatives of external organisations, are the trustees of the charity. Members of the Church Council are choseii by one of the following proce55e5,'111 Ministers appointed to the church by the Methodist Church121 ordinary members elected by the annual General Church MeetinE131 stewards of the church, elected by the annual General Church Meeting141 ex officio officers of the church, SL¢ch as the treasurer, who are appointed by the Church Council itself151 representative5 from the Methodist Church in the local The Church Council normally meets four times a year and receive5 report5 from officers and organisations within the church. Dèy-to-day management is devolved to the minister, stewards, the Finance & Property Committees, the Pastoral Committee, and the officers of the church, such as Pastoral Secretary, Treasurer and Property Steward. Trustees other than the minister must all be members of Royston Methodist Church. They serve for a maximum of six years in a role, but may be appointed beyond this time by annual election with a 75% majority, in accordance wilh Methodist standing orders. The trustees have paid due regard to guidance i55ued by the Charity Commission on public benefit in deciding what activities the Church Should undertake. Key Management Personnel The trustees consider they are the key management and are not remunerated. In accordance with Methodist Discipline, all ministers are provided with a manse and a stipend by the circuit to which they are Stationed. The stipend and manse are the means to provide the minister with the material support necessary to fulfil God's mission. The provision of a stipend and manse is not considered to be a personal benefit or payment for services provided, but must be declared. For further details please see - President of the Methodist Conference v Preston120131 UKSC 27. Statement of Trustees Responsibilities The charity trustees are responsible for preparing a Trustees, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practicel. The law applicable to charities in England and Wales require5 the charity trustees to prepare financial statements for each year which 8ive a true and fair view of the state of affairs of the charilv and of the incoming resources, and application of resource5, of the charity for that period. In preparing the financial statements, the trustees are required to.. select suitable accounting policies and then apply them consistently,. obseNe the methods and principles in the applicable Charities SORP,. make judgement5 and estimates that are reasonable and prudent,. state whether applicable accounting Standards have been followed, subject to any material departures that must be disclosed and explained in the financial statements,. prepare the financial statements on the going concern basis unle55 It is inappropriate to presume that the cl)arity will continue in business. The trustees are respDn5ible for l